Yes Obama is a liar. No, the US cannot default unless the President chooses to, we have enough revenue coming in to pay our obligations. No we should not raise taxes.
But it looks like we will see the debt ceiling raised in exchange for $2 trillion in "cuts" over "10 years" that will never happen. Those spending cuts will NOT happen. They do not and cannot bind future Congresses, period.
If the GOP declares victory it will be a phyrric one at best.